Global Medical Fiber Optics Market is estimated to reach $1,542 million by 2024; growing at a CAGR of 6.1% from 2016 to 2024. Fiber optics are widely used in medical and biomedical field such as illumination, sensors, imaging, and laser delivery systems. Insensitivity to electromagnetic disturbance and small dimension of the fiber makes it most significant and prevalent application in medicine. The essential physical characteristics of optical fiber coupled with its flexibility in remote sensing makes it a popular technology in the field of biomedical applications. Increasing application of biomedical sensing optical fiber is additional projected to fuel the growth in near future.
Increasing need for miniaturization of medical devices, increasing preference for minimal invasive procedures, and rising demand for advanced diagnostic techniques are the factors driving the growth of the global medical fiber optics market. Rapid advancements in fiber optic technology and increasing demand for fiber-optic transillumination in dentistry also supports the growth of the market. However, risk associated with intensity of light may hinder the adoption of fiber optics. Furthermore, innovations in the field of fiber optics may provide several growth opportunities in the coming years.
The global medical fiber optics market is segmented into application and geography. Application is segmented into laser fiberoptic, fiberoptics sensors, endoscopes, fiberoptics surgical lights, fiberoptics dental lights, and others.
By geography, the market has been bifurcated into North America, Europe, Asia-Pacific, and Rest of the World (RoW). The U.S., Canada, and Mexico are covered under North America wherein Europe covers UK, Germany, France, Italy, and others. Asia-Pacific covers China, Japan, India, and others. RoW covers South America, Middle East, and Africa.
The key players in the market includes Coherent, Inc., Schott AG, Boston Scientific Corporation, Timbercon, Inc., IPG Photonics Corporation, American Medical System LLC, LEONI AG, ROFIN-SINAR Technologies Inc., Vitalcor, Inc. and TRUMPF Group, among others.
The key takeaways from the report
- The report will provide a detailed analysis of Global Medical Fiber Optics Market with respect to major segments such as application and geography
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Global Medical Fiber Optics Market from 2015 to 2024 has been included in the report
- Profile of the key players in the Global Medical Fiber Optics Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of the Global Medical Fiber Optics Market
- Laser Fiberoptic
- Fiberoptic Sensors
- Fiberoptic Surgical Lights
- Fiberoptic Dental Lights
- Other Applications
- North America
- South America
- Middle East